Levi Strauss & Co. (NYSE:LEVI) Reaches New 12-Month High – Here’s What Happened

Levi Strauss & Co. (NYSE:LEVI) shares reached a new 52-week high during trading on Friday . The company traded as high as $24.91 and last traded at $24.89, with a volume of 692744 shares traded. The stock had previously closed at $23.99.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LEVI shares. BTIG Research reaffirmed a “buy” rating and set a $27.00 target price on shares of Levi Strauss & Co. in a research note on Wednesday, April 8th. UBS Group lifted their target price on Levi Strauss & Co. from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Weiss Ratings upgraded shares of Levi Strauss & Co. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Raymond James Financial reissued an “outperform” rating and issued a $25.00 price target on shares of Levi Strauss & Co. in a report on Monday, May 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of Levi Strauss & Co. in a research report on Wednesday, April 8th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.79.

Levi Strauss & Co. Trading Up 2.7%

The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The firm has a market cap of $9.47 billion, a PE ratio of 15.69, a P/E/G ratio of 1.85 and a beta of 1.34. The company’s 50-day moving average is $22.76 and its 200 day moving average is $21.46.

Levi Strauss & Co. (NYSE:LEVI) last announced its earnings results on Tuesday, April 7th. The blue-jean maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. Levi Strauss & Co. had a net margin of 9.52% and a return on equity of 25.35%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $0.38 EPS. The company’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts predict that Levi Strauss & Co. will post 1.5 EPS for the current year.

Levi Strauss & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 2.3%. Levi Strauss & Co.’s dividend payout ratio (DPR) is presently 35.67%.

Insider Activity at Levi Strauss & Co.

In other Levi Strauss & Co. news, major shareholder E. Haas Jr. Family Fund Peter sold 145,662 shares of Levi Strauss & Co. stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $24.01, for a total transaction of $3,497,344.62. Following the transaction, the insider owned 145,662 shares of the company’s stock, valued at $3,497,344.62. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karyn Hillman sold 38,938 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $22.91, for a total transaction of $892,069.58. Following the completion of the sale, the executive vice president directly owned 91,522 shares of the company’s stock, valued at $2,096,769.02. This trade represents a 29.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,468,570 shares of company stock worth $34,136,152. Company insiders own 1.08% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC acquired a new stake in shares of Levi Strauss & Co. during the 4th quarter valued at $26,000. US Bancorp DE raised its holdings in shares of Levi Strauss & Co. by 260.5% during the third quarter. US Bancorp DE now owns 1,121 shares of the blue-jean maker’s stock worth $26,000 after acquiring an additional 810 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Levi Strauss & Co. by 140.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,425 shares of the blue-jean maker’s stock worth $26,000 after acquiring an additional 833 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Levi Strauss & Co. during the fourth quarter valued at $39,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Levi Strauss & Co. by 133.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286 shares of the blue-jean maker’s stock valued at $51,000 after purchasing an additional 1,879 shares during the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.

Levi Strauss & Co. Company Profile

Levi Strauss & Co is a global apparel company best known for its denim jeans and casual wear. Founded in 1853 in San Francisco by Bavarian immigrant Levi Strauss, the company pioneered the modern blue jean with the introduction of rivet-reinforced work pants. Over its more than 160-year history, Levi Strauss has evolved into a lifestyle brand, offering a broad portfolio that includes denim for men, women and children, as well as tops, outerwear, footwear and accessories.

The company’s flagship label, Levi’s®, is recognized worldwide for its iconic styles such as the 501® Original Fit Jeans, while additional brands, including Dockers®, Target core metric, and Denizen® by Levi’s, cater to diverse price points and consumer segments.